Mulvaney Cuts CFPB Fair Lending Office's Enforcement Power

Law360, New York (February 1, 2018, 7:21 PM EST) -- Consumer Financial Protection Bureau Acting Director Mick Mulvaney said Tuesday that a key agency office tasked with policing lenders for compliance with anti-discrimination laws will lose its enforcement duties and be brought under the purview of his office, a move that is sparking criticism from consumer advocacy and civil rights groups.

In an email sent to all CFPB staff, Mulvaney announced that the Office of Fair Lending and Equal Opportunity will vacate its current spot in the CFPB’s Supervision, Enforcement and Fair Lending division to become...